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LATEST NEWS UPDATES | Currency circulation in India at 99% of pre-demonetisation level: RBI data -Alekh Archana

Currency circulation in India at 99% of pre-demonetisation level: RBI data -Alekh Archana

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published Published on Feb 24, 2018   modified Modified on Feb 24, 2018
-Livemint.com

Mumbai: Currency in circulation in India stood at Rs17.78 trillion as on 16 February, reaching 98.94% of the pre demonetisation level, according to the latest data released by the Reserve Bank of India (RBI).

On 4 November 2016, the latest data released by the central bank before high-value banknotes were invalidated on 8 November, the currency with the public was Rs17.97 trillion. Subsequently, it dropped to a low of Rs8.98 trillion as on 6 January 2017. The demonetisation, aimed at countering tax dodgers and counterfeiters, sucked out 86% of the currency in circulation. The government had then also pointed out to relatively lower levels of currency with the public as a success.

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Livemint.com, 23 February, 2018, http://www.livemint.com/Industry/1iuLUAhTgt0FgVnouESRBI/Currency-in-circulation-at-99-of-pre-demonetisation-level.html


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